Non-food bank credit grows 7.52%

Non-food bank credit grew 7.52% year-on-year (y-o-y) during the fortnight ended September 15 with the outstanding loans to companies and individuals rising to Rs 77.27 lakh crore from Rs 71.86 lakh crore in the same fortnight last year.

Non-food bank credit grew 7.52% year-on-year (y-o-y) during the fortnight ended September 15 with the outstanding loans to companies and individuals rising to Rs 77.27 lakh crore from Rs 71.86 lakh crore in the same fortnight last year. Aggregate deposits with the banking system grew 9.95% on a year-on-year basis to Rs 107.07 lakh crore. However, compared to two fortnights ago it reduced from the Rs 107.47 lakh crore.The net corporate bonds outstanding of Rs 24.81 lakh crore at the end of June was up 20% from Rs 20.63 lakh crore in June 2016, as per data released by the Securities and Exchange Board of India.

Data released by the RBI showed that the net outstanding on commercial papers (CPs) stood at Rs 3.69 lakh crore as of August 31, down from Rs 3.88 lakh crore in the same period last year. Loan offtake was subdued in recent quarters in an environment of muted private sector investment. In addition, increased levels of disintermediation have also hurt demand for bank credit.